RIYADH: According to a research, Chinese automakers are predicted to increase their market share from 10 percent in 2024 to 34 percent in the Middle East and Africa area by 2030. According to a recent research by the international consulting firm AlixPartners, by the end of the decade, the MEA area would manufacture the largest proportion of automobiles produced by the Asian nation outside of China, Russia, and Belarus.
The forecasts are in line with research released in November by media intelligence firm CARMA, which found that consumers in nations like Saudi Arabia and the United Arab Emirates had more than 70 percent trust in Chinese automakers, more than twice as much as those in the United States. “Chinese automobile manufacturers are quickly gaining traction in the Middle East, positioning the region as a critical growth engine for their global exports,” stated Alessandro Massaglia, partner and managing director of AlixPartners.
Massaglia claims that two key elements drawing purchasers in the Middle East are the technological superiority of Chinese automobiles and their affordable prices. Customers value Chinese cars’ competitive pricing and excellent technological content. These companies are gradually overtaking more established ones, a trend that is anticipated to pick up speed as the slow transition to electric vehicles continues,” he continued.
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